Travel + Leisure (NYSE:TNL) Issues Earnings Results

Key Points

• Travel + Leisure reported an earnings per share (EPS) of $1.80 for the quarter, exceeding expectations by $0.08 and showing a 5.1% increase in revenue year-over-year at $1.04 billion.
• The company recently announced a quarterly dividend of $0.56 per share, with a yield of 3.7% and a payout ratio of 38.62%.
• Analysts have mixed views on the stock, with several raising price targets, giving it an average rating of "Moderate Buy" and a target price of $62.30.

Travel + Leisure (NYSE:TNL - Get Free Report) released its earnings results on Wednesday. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.72 by $0.08, Zacks reports. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $1.57 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year.

Travel + Leisure Trading Up 0.9%

NYSE:TNL opened at $60.68 on Wednesday. Travel + Leisure has a 12 month low of $37.77 and a 12 month high of $64.11. The company has a market cap of $3.94 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 0.58 and a beta of 1.47. The company has a 50 day simple moving average of $61.11 and a two-hundred day simple moving average of $54.32.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were issued a $0.56 dividend. The ex-dividend date was Friday, September 12th. This represents a $2.24 annualized dividend and a yield of 3.7%. Travel + Leisure's dividend payout ratio (DPR) is currently 38.62%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JMP Securities raised their price target on Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Travel + Leisure in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Barclays raised their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $62.30.

Insider Activity

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 8,201 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $62.24, for a total value of $510,430.24. Following the transaction, the chief accounting officer owned 20,000 shares of the company's stock, valued at approximately $1,244,800. This represents a 29.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Herrera sold 2,200 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total value of $133,056.00. Following the completion of the transaction, the director directly owned 559 shares in the company, valued at $33,808.32. The trade was a 79.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 250,443 shares of company stock worth $15,634,728. Insiders own 3.75% of the company's stock.

Institutional Investors Weigh In On Travel + Leisure

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of Travel + Leisure in the second quarter worth approximately $392,000. Worldquant Millennium Advisors LLC bought a new position in Travel + Leisure in the second quarter worth approximately $391,000. Marshall Wace LLP purchased a new position in shares of Travel + Leisure during the 2nd quarter worth $343,000. Tower Research Capital LLC TRC grew its position in shares of Travel + Leisure by 18.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,944 shares of the company's stock valued at $307,000 after acquiring an additional 940 shares during the period. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Travel + Leisure in the 2nd quarter worth $301,000. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Company Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.

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